Crypto.IQ Daily Digest July 12, 2018

BLOCKCHAIN, PUBLIC RECORDS

Ghana Looks To IBM For Blockchain-Based Land Administration

IQ THOUGHTS

Through history, one near certain path to wealth has been land ownership. Land provides a place to live. It can be a source of food, and it is often collateral for loans to grow businesses. But for some people in third world countries and remote rural areas, the potential that land ownership holds for future wealth is complicated by poor record keeping.

That’s the sticking point for Ghanaian landowners. The country’s current method of record keeping is paper-based and centralized, so banks refuse to accept the land as collateral.

With the help of IBM, a company that is stepping into blockchain in a big way, Ghana soon will build a computerized, immutable, and verifiable land registry that will overcome that hurdle and put landowners on the road to generational wealth.

Just like everyone else, we want to increase our wealth in the crypto space, but what keeps us here, what keeps us passionate about this technology is its transformational power. It excites us to see blockchain solving old problems and creating avenues of opportunity for some of the world’s poorest people.